Aren't credit card interest rates more than 30% too high? How could a U.S. Senator vote against a cap at 30%?
But that's exactly what then-Senator Barack Obama did in 2008. He claims it was because he favored a lower cap. But the result was that enough Senators like him voted against a bill that would have at least capped the rates at 30%. So instead of a cap, there's no cap.